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The largest crypto copy trading platform – Bitget, has released an announcement at the Paris Blockchain Week on March 22, stating that it has invested $30 million in the BitKeep decentralized multi-chain wallet. The move places Bitget as the controlling stakeholder of the wallet and grants the exchange the chance to expand its range of services, linking both DeFi and CeFi in a single application through the collaboration. The acquisition will also grant BitKeep access to enhancements in terms of stability and security, piggybacking on Bitget’s established infrastructure.
The BitKeep wallet was established in 2018 as a non-custodial service with integrated NFT marketplace and swap functionality, and has been operating since. As part of the merger, Bitget will receive access to BitKeep’s extensive user base of over 8 million across 168 countries and product developments. BitKeep supports over 90 mainnet networks, including Bitcoin, Ethereum, the BNB Chain, Polygon, and Solana, significantly bolstering Bitget’s market reach. The 250,000+ types of assets deployed across more than 20,000 dApps in BitKeep’s list will be adding even more value to the exchange’s market positioning.
The BitKeep wallet had announced a $15 million fundraising round in May of 2022 and was valued at $100 at the time. Among the leading participants in the round were such market heavyweights as KuCoin Ventures, Dragonfly Capital, Peak Capital, YM Capital, Matrixport, and others. At present, Bitget has already invested over $30 million in the multi-chain wallet, which was valued at more than $300 million by the end of the latest funding round.
The investment is a major move on the part of the exchange, which has been expanding its market influence over the last few months through a series of public events and extensive investments in blockchain ventures. The main purpose of the acquisition of BitKeep resides in the desire of Bitget management to enhance the overall product offering and services lineup of the native ecosystem and attract new users. The exchange’s strive to enter Web3 space through the recently announced ‘Go Beyond Derivative’ strategy entails further investments in promising blockchain startups that pave the way for a seamless linkage of CeFi and DeFi space on the basis of a holistic exchange infrastructure.
The acquisition is of immense benefit to BitKeep as well, as it will facilitate collaborative efforts in decentralized space and grant it access to Bitget’s proven security systems, as Gracy Chen, the Managing Director of Bitget commented on the investment. Moka Han, the Chief Operating Officer at BitKeep, confirmed the importance of the event by stating that the acquisition has a technical support side that will provide the wallet’s team with necessary experience and insights to allow the product to grow and improve
its offering to users. Both teams agree that the ultimate goal is the benefit of their respective communities and market participants as a whole.
The Bitget exchange has been successful in forming a comprehensive and convenient lineup of services, which provides users with a wide range of DeFi protocols, a dApp explorer service, NFT project facilities, and many others. All the products within the Bitget ecosystem operate in a seamless manner, allowing users to enter Web3 space hassle-free and take advantage of its many opportunities. The integration of the BitKeep wallet will further improve user experience and provide additional capabilities for decentralized space browsing and interaction.
